AMATA
AMATA targets 2018 land sales of 925 rai and announced a 5-year business plan. Its goal is to set up a “Smart City”. It has budgeted Bt10mn to develop Long Thanh industrial estate in Vietnam, which it will start to sell in 2018. It also plans to develop an industrial estate in Myanmar, with sales starting in 2019. (Khao Hoon, 19/1/18)

CRANE
CRANE targets 2018 revenue of Bt1.4bn as backlog of foundation works is high and the sale and rent of heavy-duty machinery looks good. It says it is going to bid for a new bored pile construction project worth Bt200mn, which will add to its current backlog of Bt600mn; this will be booked as revenue through yearend. It says the raise in minimum wage will have minimal effect on its business as salaries for most of its employees are already higher than the minimum. (Thun Hoon, 19/1/18)
Comment: It’s the bored piling projects that have driven their stock price for the past 6 months

GULF
GULF signed a 25-year PPA for 20.6 MW with EGAT. It plans to start construction of this power plant this year and expects commercial startup with revenue in 2019. It says it will start commercial operations of three power plants this year with total capacity of 380.1MW. It is looking for new energy investment at home and overseas. (Thun Hoon, 19/1/18)
Comment: So Thaksin’s old friends made bank here, look at this company’s structure and you’ll see that everything is a JV, they have zero technical skills as a power company to do projects without a JV partner. Interesting that the Japanese announced they will no longer partner with Gulf on future projects.

MGT
MGT is expanding to the food flavoring business, targeting revenue from this business at Bt30mn this year. It expects 2018 revenue to continue to grow to reach Bt658mn. It is progressing to expand branches in Myanmar as it views demand is significant, brought by high government investment in infrastructure. (Thun Hoon, 19/1/18)

MONO
MONO targets 2018 revenue growth of 30-40% to Bt3-3.5bn. It plans to raise ad rate by 50% or Bt40,000/min. It has budgeted Bt800-900mn to add more content in order to raise its ratings to second place. (Thun Hoon, 19/1/18)

NDR
NDR board approved the purchase of FKRMM, a motorcycle tires distributor in Malaysia, for RM53mn from Consistent Record Sdn. Bhd. (CRSB). It believes this deal will strengthen its business and plans to book revenue from this company immediately in 1Q18, which will bring a significant rise in revenue and earnings. (Thun Hoon, 19/1/18)

SAMART
SAMART believes 2018 earnings will turn positive as its new business, SDC, will start to generate revenue in 2Q18 and it projects SAMTEL’s revenue to exceed Bt10bn. It is going to sign contracts for new projects worth Bt4bn in 1Q18 out of Bt10bn in new projects for the whole year. It plans to bid for new projects worth Bt10bn. (Khao Hoon, 19/1/18)
Comment: And so, if that’s the case it trades at 0.7x backlog value whereas AIT trades at 2x backlog value

SCI
SCI projects 2018 revenue to grow by 30% and it will book revenue of Bt400mn from both domestic and overseas projects in 1Q18. It expects to receive a construction project worth US$416mn in Laos in 2H18 and is going to bid for two projects in Myanmar worth US$252mn. (Thun Hoon, 19/1/18)

TSE
TSE will start commercial operation of three power plants with capacity of 22.2MW this year. It expects the first to start in February. It plans to find new investment in power plants to add 100MW more. (Thun Hoon, 19/1/18)